Introduced Senate Bill (S)

Authored by

DIGEST

Availability of funds to recycling board. Provides that the Indiana recycling market development board (board) may make a loan or a grant from the recycling promotion and assistance fund (fund) without the approval of the governor and the budget agency if: (1) the board provides notice in writing to the governor and the budget agency of the board's intention to make the loan or grant; and (2) the governor and the budget agency do not inform the board in writing of their disapproval of the proposed loan or grant within 60 days after being provided notice of the proposed loan Availability of funds to recycling board. Provides that the Indiana recycling market development board (board) may make a loan or a grant from the recycling promotion and assistance fund (fund) without the approval of the governor and the budget agency if: (1) the board provides notice in writing to the governor and the budget agency of the board's intention to make the loan or grant; and (2) the governor and the budget agency do not inform the board in writing of their disapproval of the proposed loan or grant within 60 days after being provided notice of the proposed loan or grant. Provides that the board, without the approval of the governor and the budget agency, may in each state fiscal year make loans and grants from the fund in a total amount not greater than 10% of the balance in the fund on the first day of the state fiscal year. ... View more